AGF - AMP Capital China Growth Fund
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Re: AMP Capital China Growth Fund
The below is a little outdated but still worth reading.
Closed at $1.11 (up 7.3%). I'm gonna be an idiot and say the obvious: demand for this fund is high and it's definately starting to flow in! It hit a peak of $1.20 just before noon. I'm hitting myself for not buying when it listed on Friday.marklar said:
The below is a little outdated but still worth reading.
Re: AMP Capital China Growth Fund
m.
OK, so some took profits towards the end of the day; I've watched stocks have this happen, it will be good to see a chart once we get enough data to actually plot one.scsl said:
Ah, but you can't buy everything! I sold some IAG to pick up a small handful of these on friday with the plan of getting back into IAG at the 5.50 offer I got in the post today (provided they're still trading above 5.50 in jan).
m.
Re: AMP Capital China Growth Fund
Today's close of $1.11 represents a 14% premium to its Net Asset Value (NAV) of $0.975. Considering that many trusts and listed invesment companies (LICs) that have listed in the past have traded at or below NAV on listing, AGF is doing well.
And as I'm still continuing my research into AGF, I'll continue to provide useful links for those interested. This one's a media presentation:
http://www.ampcapital.com.au/K2DOCS...98F21B/MR20061121ChinaPresentation.pdf?DIRECT
Today's close of $1.11 represents a 14% premium to its Net Asset Value (NAV) of $0.975. Considering that many trusts and listed invesment companies (LICs) that have listed in the past have traded at or below NAV on listing, AGF is doing well.
And as I'm still continuing my research into AGF, I'll continue to provide useful links for those interested. This one's a media presentation:
http://www.ampcapital.com.au/K2DOCS...98F21B/MR20061121ChinaPresentation.pdf?DIRECT
Caliente
Black Gold!
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Re: AMP Capital China Growth Fund
hi, I'm one of those interested parties right here. With the QFII issue cleared up this fund looks like a go in my books. I will see if I can squeeze some room in the portfolio for this kiddo.
thanks for the good info, and keep it coming scsl
Cheers
-Cal
hi, I'm one of those interested parties right here. With the QFII issue cleared up this fund looks like a go in my books. I will see if I can squeeze some room in the portfolio for this kiddo.
thanks for the good info, and keep it coming scsl
Cheers
-Cal
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Hi Guys,
It has just been traded for the last few days. What do the experts think its sp should be by the end of Jan?
Regards.
It has just been traded for the last few days. What do the experts think its sp should be by the end of Jan?
Regards.
To hard to tell what the share price will be at the end of January 07.
But at $1.20, with a 20% profit after a few days trading you can’t complain.
As the job of this share is to trade/invest in China’s “A Shares”, not many companies/funds have the exposure to do this.
Hence a lot of the insto’s will take up a small percentage to get a bit of exposure.
And with the amount of positive China related articles in the Business sections in all our National newspapers in the last 3 weeks you would assume its share price could grow considerable.
Maybe the question should be asked where will its share price (AGF) be at the end of December 2007.
But at $1.20, with a 20% profit after a few days trading you can’t complain.
As the job of this share is to trade/invest in China’s “A Shares”, not many companies/funds have the exposure to do this.
Hence a lot of the insto’s will take up a small percentage to get a bit of exposure.
And with the amount of positive China related articles in the Business sections in all our National newspapers in the last 3 weeks you would assume its share price could grow considerable.
Maybe the question should be asked where will its share price (AGF) be at the end of December 2007.
Re: AMP Capital China Growth Fund
Seriously!! Look at this thing go! Up 10% today, and was at one stage sitting on a 21% gain. Although there's no reason for this fund to not do well, I am very surprised at the pace it's going. And no, I still haven't bought any yet. hmmm, to buy or not to buy? Surely, this one's got to pull back a little?!
Seriously!! Look at this thing go! Up 10% today, and was at one stage sitting on a 21% gain. Although there's no reason for this fund to not do well, I am very surprised at the pace it's going. And no, I still haven't bought any yet.
hmmm, to buy or not to buy? Surely, this one's got to pull back a little?!
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Re: AMP Capital China Growth Fund
Cannot believe people would pay $1.40 for $1.00 worth of cash
Cannot believe people would pay $1.40 for $1.00 worth of cash
michael_selway
Coal & Phosphate, thats it!
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Re: AMP Capital China Growth Fund
how do u know its $1 worth of cash?
thx
MS
BSD said:
how do u know its $1 worth of cash?
thx
MS
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Re: AMP Capital China Growth Fund
It probably isn't even worth that after the listing costs have been pulled out.
Unless their investments in listed Chinese companies went up in the week they have had the money - the NTA is closer to $1.00 than $1.40
What am I missing here?
It probably isn't even worth that after the listing costs have been pulled out.
Unless their investments in listed Chinese companies went up in the week they have had the money - the NTA is closer to $1.00 than $1.40
What am I missing here?
Re: AMP Capital China Growth Fund
. Think I'm going to set a stop a little under today's close price just in case everyone decides to sober up tomorrow 
and keep a close eye on things in case I need to get back in real quick... hmm... another day at work without doing much work...
m.
Don't know, but I'm happy with the increase from buying in at 1.04 on day oneBSD said:
. Think I'm going to set a stop a little under today's close price just in case everyone decides to sober up tomorrow and keep a close eye on things in case I need to get back in real quick... hmm... another day at work without doing much work...m.
Re: AMP Capital China Growth Fund
I think one has to be wary when dealing with China. After all it is a communist regime, it is very bureacratic and it is subject to corruption in the public service. I have heard personal tales of woe in the past that they have renegged on their deals. And even though AMP is associated with this venture, don't forget AMP has less than a perfect record in its' offshore investements. Regards YN.
scsl said:
I think one has to be wary when dealing with China. After all it is a communist regime, it is very bureacratic and it is subject to corruption in the public service. I have heard personal tales of woe in the past that they have renegged on their deals. And even though AMP is associated with this venture, don't forget AMP has less than a perfect record in its' offshore investements. Regards YN.
Re: AMP Capital China Growth Fund
At this stage, I would not pay $1.40 - in fact, I'm not willing to pay more than about $1.20-1.25 (it closed at $1.32). AGF is worth buying as it has substantial growth prospects, but at these levels, it's priced quite excessively. Of the many LICs on the ASX only a very small percentage trade at a 25%+ premium (let alone above 10%) see http://www.asx.com.au/investor/pdf/tolhurst_noall_listed_investment_company_report_oct_2006.pdf. The Chinese sharemarket will see relatively big returns, but I would like to perhaps see proof that AGF management is on the right track in terms of growing NAV.
A reason for the demand behind the stock since its listing on Dec 22 could be that as word amongst retail and institutional investors/brokers spreads and research is done/quoted, the fact that the A-share index (which is solely what AGF will invest in) was the best performing major share index will count for something - it returned 101.7% in 2006! (source: http://www.timesonline.co.uk/article/0,,2095-2517495,00.html). Matching this is hard to fathom but it is worthwhile remembering that the A-share market is being supported by strong economic growth, continuing significant market reforms and strong underlying demand from foreign and domestic investors.
Regarding how much it's currently worth, see post #24. AGF's current NAV is $0.975. As they should be fully invested pretty soon, I wouldn't exactly call it cash. So from here on, if the value of their investments rise, so will the NAV (same as NTA btw).
I'd be interested to hear what people would be willing to pay for this atm...
I know what you mean... it's like the uranium craze atm: people buying shares of companies that will never produce an ounce of uranium. However, if the growth prospects are evident, you can be sure to see demand for a stock.BSD said:
At this stage, I would not pay $1.40 - in fact, I'm not willing to pay more than about $1.20-1.25 (it closed at $1.32). AGF is worth buying as it has substantial growth prospects, but at these levels, it's priced quite excessively. Of the many LICs on the ASX only a very small percentage trade at a 25%+ premium (let alone above 10%) see http://www.asx.com.au/investor/pdf/tolhurst_noall_listed_investment_company_report_oct_2006.pdf. The Chinese sharemarket will see relatively big returns, but I would like to perhaps see proof that AGF management is on the right track in terms of growing NAV.
A reason for the demand behind the stock since its listing on Dec 22 could be that as word amongst retail and institutional investors/brokers spreads and research is done/quoted, the fact that the A-share index (which is solely what AGF will invest in) was the best performing major share index will count for something - it returned 101.7% in 2006! (source: http://www.timesonline.co.uk/article/0,,2095-2517495,00.html). Matching this is hard to fathom but it is worthwhile remembering that the A-share market is being supported by strong economic growth, continuing significant market reforms and strong underlying demand from foreign and domestic investors.
Regarding how much it's currently worth, see post #24. AGF's current NAV is $0.975. As they should be fully invested pretty soon, I wouldn't exactly call it cash. So from here on, if the value of their investments rise, so will the NAV (same as NTA btw).
I'd be interested to hear what people would be willing to pay for this atm...
Re: AMP Capital China Growth Fund
Read somewhere how AMP Capital Investors head of investment Dr. Shane Oliver is up there with the best, if not one of the best going around. And has had a considerable say & changed their less than perfect record from years ago.
Also there is a lot of write ups in the paper about China, so if you wanted a bit of International exposure especially China, well you couldn't go wrong with this once it starts investing........ And It all depends on what you pay for it, & where it will be in 12 months time.
If it goes anything like the unlisted Fund, "Premium China Fund" which has been going for 11 to 12 months & is run by the respected Value Partners Ltd in Hong Kong & which invest in companies listed in Hong Kong, Mainland China & Taiwan stock exchanges, then I would be happy. Admittedly I was unsure when my Finacial bloke recommended them but I did my research & took a chance.
Its unit price opened at $1.00 & is now $1.53, 12 months on.
I would think in 12 months time AMP's China Fund would better this once it gets into the swing of things.
.
Read somewhere how AMP Capital Investors head of investment Dr. Shane Oliver is up there with the best, if not one of the best going around. And has had a considerable say & changed their less than perfect record from years ago.
Also there is a lot of write ups in the paper about China, so if you wanted a bit of International exposure especially China, well you couldn't go wrong with this once it starts investing........ And It all depends on what you pay for it, & where it will be in 12 months time.
If it goes anything like the unlisted Fund, "Premium China Fund" which has been going for 11 to 12 months & is run by the respected Value Partners Ltd in Hong Kong & which invest in companies listed in Hong Kong, Mainland China & Taiwan stock exchanges, then I would be happy. Admittedly I was unsure when my Finacial bloke recommended them but I did my research & took a chance.
Its unit price opened at $1.00 & is now $1.53, 12 months on.
I would think in 12 months time AMP's China Fund would better this once it gets into the swing of things.
.
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Re: AMP Capital China Growth Fund
Does anyone know that the increase/decrease price of AMP Limited (ASX : AMP) affect this AGF?
Does anyone know that the increase/decrease price of AMP Limited (ASX : AMP) affect this AGF?
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Re: AMP Capital China Growth Fund
Any blatant dodginess by the Chinese government won't just affect this fund but many other Australian companies as well since we are so closely tied with China in trade, so I'm not too worried in that regard with this particular fund.
AMP.. hopefully they've put new measures in place to prevent a repeat of those things.
I haven't heard any of the 51 other QFII licence holders having any troubles since the inception of the licence 5 years ago.
I took some profit today. Might buy in again at the <1.20 level.
scsl - I couldn't get that times article to show up.
YELNATS said:
Any blatant dodginess by the Chinese government won't just affect this fund but many other Australian companies as well since we are so closely tied with China in trade, so I'm not too worried in that regard with this particular fund.
AMP.. hopefully they've put new measures in place to prevent a repeat of those things.
I haven't heard any of the 51 other QFII licence holders having any troubles since the inception of the licence 5 years ago.
I took some profit today. Might buy in again at the <1.20 level.
scsl - I couldn't get that times article to show up.
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Re: AMP Capital China Growth Fund
I still cannot understand anyone paying $1.20+ for $1.00 worth of assets.
Most people whinge about paying a 1.5% MER on a managed fund.
Buyers of this share are paying a 20%+ entry fee.
AMP can make a massive 20% on the Chinese market and the current buyers will still be underwater on NTA
Imagine if they drop 10% of NTA in the first quarter...
I still cannot understand anyone paying $1.20+ for $1.00 worth of assets.
Most people whinge about paying a 1.5% MER on a managed fund.
Buyers of this share are paying a 20%+ entry fee.
AMP can make a massive 20% on the Chinese market and the current buyers will still be underwater on NTA
Imagine if they drop 10% of NTA in the first quarter...
